Stocks Rise In Quiet Trade Ahead Of Fed Minutes

Major averages held slight gains in early afternoon trading Tuesday as Wall Street awaited minutes from the July 30 Fed meeting.

The Dow industrials, boosted by Boeing (NYSE:BA) and Home Depot (NYSE:HD), led with a 0.2% gain. The S&P 500 rose 0.1% and the Nasdaq was fractionally higher. Volume was tracking lighter on both exchanges in the stock market today.

On the economic front, the Mortgage Bankers' Association reported home purchase applications slipped 0.4% in the latest week to its lowest level in almost six months. But refinancing activity rose 2.7% amid lower 30-year mortgage rates.

Home Depot (NYSE:HD) climbed 2% to a new high in twice normal trade. Shares surged 6% Tuesday after the home improvement retailer's Q2 earnings and sales topped forecasts. The chain also lifted its full-year profit guidance by a dime to $4.52 a share. The stock is now 8% above an 83.30 flat-base buy point.

Rival Lowe's (NYSE:LOW) pared its losses from a 3% drop after its Q2 results also beat views. But the retailer lowered its full-year sales forecast. The stock is just above a 51.38 cup buy point.

F5 Networks (NASDAQ:FFIV) surged 2% in heavy trade to its highest level in more than two years. The stock extended a 3% gain from Tuesday, when it finally followed through on a late-July breakout past a 116.81 flat-base buy point. It's now 5% above the entry. ISI Group on Wednesday raised its rating on F5 to strong buy from buy.

Among IBD 50 stocks, Trinity Industries (NYSE:TRN) added 2% in a third straight up session. The stock is now 2% above a 46.39 four-weeks-tight buy point it cleared yesterday, before closing below the entry. Keybanc Capital Markets on Tuesday lifted its price target on the railcar maker to 55 from 53 and raised its full-year EPS estimate by a nickel to $4.15. On Monday, Trinity closed its buyout of Meyer Steel Structures.

Major averages held slight gains in early afternoon trading Tuesday as Wall Street awaited minutes from the July 30 Fed meeting.

The Dow industrials, boosted by Boeing (NYSE:BA) and Home Depot (NYSE:HD), led with a 0.2% gain. The S&P 500 rose 0.1% and the Nasdaq was fractionally higher. Volume was tracking lighter on both exchanges in the stock market today.

On the economic front, the Mortgage Bankers' Association reported home purchase applications slipped 0.4% in the latest week to its lowest level in almost six months. But refinancing activity rose 2.7% amid lower 30-year mortgage rates.

Home Depot (NYSE:HD) climbed 2% to a new high in twice normal trade. Shares surged 6% Tuesday after the home improvement retailer's Q2 earnings and sales topped forecasts. The chain also lifted its full-year profit guidance by a dime to $4.52 a share. The stock is now 8% above an 83.30 flat-base buy point.

Rival Lowe's (NYSE:LOW) pared its losses from a 3% drop after its Q2 results also beat views. But the retailer lowered its full-year sales forecast. The stock is just above a 51.38 cup buy point.

F5 Networks (NASDAQ:FFIV) surged 2% in heavy trade to its highest level in more than two years. The stock extended a 3% gain from Tuesday, when it finally followed through on a late-July breakout past a 116.81 flat-base buy point. It's now 5% above the entry. ISI Group on Wednesday raised its rating on F5 to strong buy from buy.

Among IBD 50 stocks, Trinity Industries (NYSE:TRN) added 2% in a third straight up session. The stock is now 2% above a 46.39 four-weeks-tight buy point it cleared yesterday, before closing below the entry. Keybanc Capital Markets on Tuesday lifted its price target on the railcar maker to 55 from 53 and raised its full-year EPS estimate by a nickel to $4.15. On Monday, Trinity closed its buyout of Meyer Steel Structures.

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03/02/2015 01:56 PM ET

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